During the first half of Tuesday’s trading session, the Australian Dollar surged by 52 basis points or 0.79% against the US Dollar. However, the currency pair surrender the earlier gains at the end of the trading day.
All things being equal, the exchange could continue to edge higher in the ascending channel pattern within this session. The possible target would be at the weekly R2 at 0.6617.
On the other hand, the currency exchange rate could make a brief pullback towards the 100- and 200– hour simple moving averages near the 0.6486 area during the following trading session.
